JUST IN: Captive Binance Executive FLEES Nigeria!

March 25, 2024 12:08 pm Comments

Good, Nadeem Anjarwalla had every right to escape the sham kangaroo proceedings arrayed against him. I hope the other detained executive likewise makes his escape.

One of the Binance executives, who was being held under house arrest in Nigeria, has escaped from the country using a Nigerian passport, according to a press statement released by Nigerian officials.

Recall that Nigeria blamed the depreciation of its failing fiat currency on Binance—something that is ludicrous and completely unfounded. Binance is a company that does business in the billions of dollars globally. Such a company could not have possibly had a material effect on the price of a sovereign currency.

Do you know what does influence the depreciation of a fiat currency? Irresponsible fiscal policies and endless monetary printing. Nigerian political advisor and official Bayo Onanuga posted this press statement:

“The Office of the National Security Adviser confirms that Nadeem ANJARWALLA, a suspect in the ongoing criminal probe into the activities of Binance in Nigeria has escaped from lawful custody on Friday, 22 March 2024.

Upon receiving this report, this office took immediate steps, in conjunction with relevant security agencies, MDAs, as well as the international community, to apprehend the suspect. Security agencies are working with Interpol for an international arrest warrant on the suspect.

Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport.

The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention.

Recall that the Federal Government of Nigeria, like other governments around the world, has been investigating money laundering and terrorism financing transactions perpetrated on the Binance currency exchange platform.

Until his escape, Nadeem Anjarwalla, who holds British and Kenyan nationalities and serving as Binance’s Africa regional manager, was being tried by Nigerian courts. The suspect escaped while under a 14-day remand order by a court in Nigeria. He was scheduled to appear before the court again on 4 April 2024.

We urge the Nigerian public and the international community to provide whatever information they have that can assist law enforcement agencies to apprehend the suspect.”

BBC News provided this statement from Binance:

Binance has not commented on the accusations it has been facing.

“We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,” a Binance spokesperson said.

Ismail Babalola asked: “With this reported escape from house arrest, is Binance admitting guilt in Nigeria?

The reported escape of Binance executive Nadeem Anjarwalla from house arrest over the weekend in Nigeria is raising a lot of questions.

Yes, there is the question of how it happened, which will need to be explained. It must also be said however that Anjarwalla and his colleague were not held in prison custody – instead they were under a form of house arrest, which came with certain privileges.

But the bigger question in my view is: why did Anjarwalla choose to escape, if indeed he is innocent, as he and Binance have been arguing in the last few weeks?

Why did he choose to flee right after a 4-count criminal charge of tax evasion was filed against the company and its executives? Is this not in keeping with Binance’s reputation as a lawless company, better known for violating national laws than legitimate business activity?

Now that Anjarwalla, a dual British-Kenyan national, has made himself a fugitive from the law in Nigeria, what next?

Will the United Kingdom, which already spends millions of pounds sterling annually to support anti-corruption efforts in Nigeria, harbour him and shield him from justice? Or will they cooperate with the Nigerian authorities to ensure that justice is done?

It is worth remembering that Binance is a company that has already been found guilty of massive violations by the US Government. The $4.3 billion fine slammed on them is the largest fine EVER by the US Treasury. This company is not a ‘victim’.

Founder and CEO Changpeng Zhao pleaded guilty to criminal charges, in November 2023, and is awaiting sentencing. He also had to step down as CEO of the company. He faces considerable jail time. A US Court has ruled that he must stay in the US until his sentencing.

What is instructive is that Binance did not attempt to use blackmail or illegality to resist or evade the serious allegations brought against it by the US Government. So why are things different in the Nigerian case?

Nigeria has played by the rules – it got a Court order for the detention, and has filed formal criminal charges against Binance and its executives. The law should be allowed to take its course. Let the Courts decide, as in the US case, whether Binance is guilty or not.”

Decrypt claimed:

Anjarwalla, who holds dual British and Kenyan citizenship, is believed to have used his Kenyan passport to board a flight on a “Middle East airliner,” according to an immigration official cited by Premium Times; his final destination is unknown.

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